sezzolou
Well-Known Member
- Joined
- Mar 19, 2012
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Hi,
I am trying to work out any tax credit entitlement I may get. Baby is due in july so full SMP will fall in this tax year which makes it abit easier to work out. I have just sent claim form for last year which I know will result in no entitlement but I hope to then just ring with income change when baby comes.
My calculations:
Normal annual income: £22,196.98
This tax year taking SMP:
13 wks normal pay: £5,549.18
6 wks @ 90% : £2,305.04
33 wks @ 136.78: £4513.74
Total = 12,367.74 income this tax yr
The only thing im confused about is the fact that ive read to deduct £100 pw of the 39 wks SMP?
Am I right in thinking I deduct £3900 from my total? So = £8,467.96 income.
I dont want to get it wrong and end up owing money back. The first result would mean we wouldnt be entitled to working tax credit when taking OH income into account. But with the 2nd result we would be entitled. (OH only earning 6grand self employed at the moment).
Thanks,
Confused
I am trying to work out any tax credit entitlement I may get. Baby is due in july so full SMP will fall in this tax year which makes it abit easier to work out. I have just sent claim form for last year which I know will result in no entitlement but I hope to then just ring with income change when baby comes.
My calculations:
Normal annual income: £22,196.98
This tax year taking SMP:
13 wks normal pay: £5,549.18
6 wks @ 90% : £2,305.04
33 wks @ 136.78: £4513.74
Total = 12,367.74 income this tax yr
The only thing im confused about is the fact that ive read to deduct £100 pw of the 39 wks SMP?
Am I right in thinking I deduct £3900 from my total? So = £8,467.96 income.
I dont want to get it wrong and end up owing money back. The first result would mean we wouldnt be entitled to working tax credit when taking OH income into account. But with the 2nd result we would be entitled. (OH only earning 6grand self employed at the moment).
Thanks,
Confused
